Facebook to Buy Mobile Startup Parse in Cash-and-Stock Deal

Facebook Inc., which is ramping up its mobile business, has agreed to buy startup Parse in a cash-and-stock deal valued at about $85 million, according to people familiar with the matter.

Parse, which was founded in 2011 and has raised $7 million from investors like Ignition Partners, helps companies build mobile applications across different operating systems. In recent months, Parse had been raising a financing round that would...